Australian Capital Territory Numbered Acts

RETIREMENT VILLAGES ACT 2012 (NO. 38 OF 2012) - SECT 167

    (1)     The operator of a retirement village may amend an approved annual budget if—

        (a)     the residents of the village approve the amendment; or

        (b)     if the residents do not approve the amendment—the ACAT makes an order approving the amendment.

    (2)     The ACAT may make an order relating to further spending only if satisfied that the further spending—

        (a)     is needed urgently; or

        (b)     was not reasonably foreseeable when the budget was approved under section 165 (Spending to be in accordance with approved annual budget).

    (3)     In this section:

"approved annual budget" does not include—

        (a)     a budget taken to be an approved annual budget because of section 165 (1) (b); or

        (b)     a proposed annual budget amended in accordance with an order by the ACAT under section 165 (2).